UAE listed Abu Dhabi based Reem Investments in pursuit of tactical planning for raising $1.6Bn in Debt, Fresh Equity

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The procured funds will gradually be utilized and funded for primarily the latest property-based progressions.

UAE listed and Abu-Dhabi based Reem Investments is overviewing for raising a staggering 6 Billion Dirhams ($1.6Bln) in Debts and fresh equity for funding and amply supporting out the latest real estate progression, as per a stock exchange filing on Wednesday.

The firm announced the Abu Dhabi Securities Exchange (ADX), on which Reem Investments shares trade, that; โ€œIn light of renewed optimism in the real estate market, the company will be undertaking new developments in Najmat, Reem Island. For financing these developments, the company would be seeking a mix of debt and fresh equity in the order of 4.5 billion dirhams and 1.5 billion dirhams, respectively.โ€

Reem also stated further that it will be introducing a serviced land plots for sale in Najmat.

The establishmentโ€™s real estate arm, Reem Developments, at present has two mega projects, a 16-million-square-foot township in Najmat and additionally a mixed-use project in Rawdhat which will target more than 18,000 inhabitants as well as the commercial tenants.

The UAEโ€™s property (Real Estate) market has freshly witnessed out an intensification in demand for homes, with purchasers breaking up completed and off-plan residential units. The preceding month, Aldar sold out the villas at its newly launched project on Yas Island in just 48 hours.

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